Sport Report: Usmanov's bid to buy Arsenal rejected by Kroenke

21:46  19 may  2017
21:46  19 may  2017 Source:   Associated Press

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A person familiar with the situation says Arsenal shareholder Alisher Usmanov has had an offer to buy out owner Stan Kroenke rejected . The Financial Times first reported that Usmanov , who has a 30 percent holding in Arsenal , has been seeking to buy Kroenke ’ s 67-percent majority stake.

A person familiar with the situation says Arsenal shareholder Alisher Usmanov has had an offer to buy out owner Stan Kroenke rejected . The Financial Times first reported that Usmanov , who has a 30 percent holding in Arsenal , has been seeking to buy Kroenke ’ s 67-percent majority stake.

Russian businessman and founder of USM Holdings Alisher Usmanov attends a session during the Week of Russian Business, organized by the Russian Union of Industrialists and Entrepreneurs (RSPP), in Moscow, Russia March 16, 2017. © Sergei Karpukhin/Reuters Russian businessman and founder of USM Holdings Alisher Usmanov attends a session during the Week of Russian Business, organized by the Russian Union of Industrialists and Entrepreneurs (RSPP), in Moscow, Russia March 16, 2017. LONDON (AP) -- Russian billionaire Alisher Usmanov has had a $1.3 billion bid to take full control of Arsenal rejected by owner Stan Kroenke, a person familiar with the offer said Friday.

Usmanov remains interested in buying out Kroenke's 67-percent majority stake in a deal valuing the club at $2 billion, the person told The Associated Press. They spoke on condition of anonymity to discuss the club's financial matters.

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Steel magnate Usmanov already had a previous bid for Arsenal rejected and has been critical of Kroenke ’s passive ownership style in the past. Usmanov ’ s latest offer comes at a tricky time for the north London club

ALISHER USMANOV has made a staggering £1BILLION bid to buy Arsenal . The Russian oligarch, who owns a minority stake in the club, is worth £11.2bn. Alisher Usmanov has made a £1billion bid to buy Arsenal from Stan Kroenke .

It is the latest move in a decade-long battle to own Arsenal by Usmanov, who has built up a 30 percent stake in the Premier League club since 2007. The takeover bid was mounted as another season at Arsenal draws to a conclusion amid uncertainty and strife on and off the pitch at the north London club.

Arsenal is set to miss out on qualifying for the Champions League for the first time in two decades, with the team in fifth place heading into its final match of the league campaign against Everton on Sunday.

Fan protests have mounted against manager Arsene Wenger with calls for him to leave after almost 21 years in charge. Wenger said his future won't be settled until a board meeting is held after Arsenal plays Chelsea in the FA Cup final on May 27.

Arsenal, Wenger fail to make Champions League after 20 years

  Arsenal, Wenger fail to make Champions League after 20 years Arsene Wenger's proud record is over: Arsenal has failed to qualify for the Champions League for the first time in 20 years. Any hope of squeezing into the Premier League top four relied on Liverpool or Manchester City slipping up, but they both won easily on Sunday to join Chelsea and Tottenham in entering the Champions League.So even though Arsenal beat Everton 3-1 to complete the league campaign with five successive wins, the resurgence came too late.There was little for Arsenal players to celebrate with fans as they embarked on a lap of appreciation after the Premier League finale.

Stan Kroenke expected to reject Alisher Usmanov ' s bid . Alisher Usmanov launches £1bn bid to buy Arsenal . He has a fractious relationship with Kroenke and last month he claimed that the club's issues should not be placed solely at the door of manager Arsene Wenger.

Alisher Usmanov has made an audacious £1billion bid to buy Arsenal from Stan Kroenke . But it is thought Usmanov his bid would be rejected , but hoped he would gain traction with fans disillusioned with “Silent Stan”.

Usmanov, whose investment in Arsenal is through Red & White Holdings, has been denied a place on the board of directors by Kroenke and he has publicly questioned the lack of investment in the squad. Kroenke, who -- like Usmanov -- first started amassing shares in Arsenal in 2007, succeeded in gaining full control in 2011.

Under Kroenke, Arsenal's Premier League trophy drought has continued. The last title came in 2004 and the only silverware since then has been FA Cup successes in 2014 and 2015.

The Financial Times first reported that Usmanov made the recent offer to buy out Kroenke, who also owns Los Angeles Rams NFL team and Major League Soccer's Colorado Rapids.

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Rob Harris is at www.twitter.com/RobHarris and www.facebook.com/RobHarrisReports

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Arsenal beats Chelsea to win third FA Cup in 4 seasons .
Arsenal has won the FA Cup after beating Chelsea 2-1 in final at Wembley Stadium.Wenger became the competition's most successful manager with a seventh title in his 21-year reign, triumphs that have papered over some of the cracks as Arsenal has repeatedly come up short in the Premier League and Champions League.

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